Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno bought 2,500,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $0.94 per share, with a total value of $2,350,000.00. Following the transaction, the insider now owns 57,432,534 shares in the company, valued at approximately $53,986,581.96. This represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Clear Channel Outdoor Stock Down 4.2 %
Shares of NYSE CCO opened at $0.86 on Wednesday. The firm's 50-day moving average price is $1.23 and its two-hundred day moving average price is $1.41. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88. The stock has a market capitalization of $422.43 million, a P/E ratio of -2.97 and a beta of 2.72.
Hedge Funds Weigh In On Clear Channel Outdoor
Several hedge funds and other institutional investors have recently made changes to their positions in CCO. Jane Street Group LLC increased its stake in Clear Channel Outdoor by 56.7% during the 3rd quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider's stock valued at $1,787,000 after buying an additional 404,082 shares during the period. XTX Topco Ltd increased its stake in shares of Clear Channel Outdoor by 182.6% during the third quarter. XTX Topco Ltd now owns 229,459 shares of the business services provider's stock valued at $367,000 after acquiring an additional 148,271 shares during the period. Barclays PLC raised its holdings in Clear Channel Outdoor by 271.2% during the third quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock worth $833,000 after purchasing an additional 380,408 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Clear Channel Outdoor by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider's stock worth $10,818,000 after purchasing an additional 54,566 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider's stock valued at $404,000 after purchasing an additional 70,196 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Barrington Research reaffirmed an "outperform" rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Monday, February 24th.
View Our Latest Report on Clear Channel Outdoor
About Clear Channel Outdoor
(
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Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.
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